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Leading U.S. Wholesale Broker Crump Group Licenses New RMS RiskBrowser
Platform
Newark, CA –
February 18, 2008 – RMS today announced that Crump Group has
signed a contract to license the new RMS Wholesale Broker RiskBrowser®
platform. The system, launched at the end of last year, will provide
them with access to industry-leading catastrophe models in a format
specifically tailored to their requirements and resources.
“Wholesale brokers are a critical player in the
wholesale insurance transaction, but until recently they have been
unable to benefit from using catastrophe risk models. This is despite
the fiercely competitive business climate in which everyone around them,
from retail brokers to insurance underwriters, relies heavily on
modeling to enhance their clients’ decision-making processes,” said
Scott Quiana, vice president of the Americas insurance practice at RMS.
“By licensing the RiskBrowser platform, Crump will be able to strengthen
relationships with retailers and their insureds by providing information
that has, until now, been unavailable to them.” Crump,
which writes $3.5 billion of premium, will use the platform to analyze
catastrophe exposures to U.S. windstorm and earthquake in each insured
location. The system automatically creates a complete risk assessment
report that includes detailed exposure analysis, hazard data analysis,
and modeled results, eliminating the need for copying, pasting, or
reformatting data. “The RiskBrowser platform gives us
access to the same catastrophe risk models that are used throughout the
insurance transaction, but these are tailored to our needs, profit
margins, and resources,” commented John Jennings, president and CEO of
Crump’s commercial division, Crump Insurance Services. “To stay ahead of
the market, we are consistently looking for ways to enhance our
partnerships with retail brokers. By allowing us to provide them with a
deeper insight into their catastrophe risk exposure, this platform will
give us a new edge in this business segment.” About
Crump Group
Crump Group, Inc. (www.Crump.com) is the largest wholesale insurance
distributor in the United States, and one of the leading U. S. providers
of recordkeeping and support services to company-sponsored retirement
plans. Its Commercial Insurance Services division consisting of Crump’s
brokerage operations, Tri-City Brokerage and BISYS Specialty Programs (www.crumpins.com;
www.bisyspc.com) is among the largest U. S. providers of wholesale
brokerage and specialty programs to the commercial property and casualty
insurance industry. Crump Life Insurance Services (www.CrumpLifeInsurance.com)
is the largest wholesale distributor of services that support the sale
of life related insurance and annuity products. Ascensus (www.ascensus.com)
is the largest independent administrator for company-sponsored
retirement plans, offering every component of retirement plan
infrastructure.
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